- We have increasing red .
- We are looking at a that is trending lower.
- The moved below 50 (at 47.19 right now) and is clearly looking down.
EMA50 (202.60) worked as support and held Apple's drop ... Normally we see a bounce here before additional action. I am getting the feeling that there won't be any bounce, it will be pure blood on Monday... But this is just a guess.
If EMA50 can't hold (breaks), then expect for AAPL to move even lower and test 198.01 or EMA100.
How far low can it go?
For starter, I believe it can easily test EMA300 at 189.40. Depending on how things develop, a bounce can happen here or it can continue going lower.
My guess, you ask?
Apple Inc . will have a really hard time and can continue much lower. It might test the last low (blue dashed line).
- Magenta lines = resistance.
- Blue lines = support.
Thanks a lot for reading.
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